The Pound Hit Rock Bottom As Brexit Went Ahead Without A Deal

The dollar index continued its choppy climb to the 98 mark, with the pound falling to a 28-month low against the dollar yesterday as the risk of Britain leaving the EU without a deal rose. Although bulls were also wary of expectations of the federal reserve cutting interest rates for the first time in a decade this week. The pressure above the previous high is around 98.38, and lower support is in the 5 average of 97.90.

GBP/USD

The British pound extended its slide to a 28-month low against the dollar on Tuesday after British prime minister Boris Johnson made a tough Brexit speech from his submarine base in Scotland and ruled out another vote on Scottish independence. Under the bold leadership of British prime minister Boris Johnson, the British government has stepped up its planning and funding for a no-deal Brexit, mobilizing for a no-deal Brexit across the country. He called the Brexit deal dead and warned that Britain would leave the EU without a deal on October 31st unless the EU renegotiated. A no-deal Brexit would undoubtedly shock the global economy, pushing the UK economy over a recession cliff. It is disrupting financial markets and undermining London's position as an international financial center.

The pound has fallen more than 200 points against the dollar so far yesterday and is now trading around 1.2180, with the upper pressure at 1.2250. The lower support is at 1.2100 and the lower support is at 1.2000 round mark.

USD/JPY

The Bank of Japan announced its interest rate decision at 11:00 PM Beijing time and released its quarterly economic outlook report. Then at 14:30, BOJ governor Haruhiko Kuroda held a news conference. The Bank of Japan is widely expected to hold its fire at Tuesday's meeting, waiting and assessing the impact of the Fed's policy decisions before considering policy measures. The focus is on whether the Bank of Japan will follow the increasingly dovish stance of central Banks in the U.S. and Europe, at a time when the growing impact of weak global demand. And trade tensions is putting pressure on Japan's weak economic recovery.

USD/JPY upper pressure is at the 109 line, if limited station. The upper pressure is at the 110.50 line, the lower short-term support is at 108.50. And then the lower support is at 108.00. The current fluctuation range is still between 107.00 and 109.00.

XAU/USD

Gold is still trading in the 1420s, with the federal reserve holding a monetary policy meeting this week and markets watching for signs of monetary easing in the world's largest economy. Better-than-expected second-quarter US GDP is bound to reinforce the argument that a full-blown easing cycle is not necessarily needed. It remains to be seen whether this is the start of the first full-blown interest-rate easing cycle since the financial crisis began in September 2007, or just a limited series of "insurance" rate cuts.

The up short-term pressure is at 1430, and the upper pressure is at 1440. The low short-term support is at 1410, and the lower support is at 1400 integer level.

USO/USD

Crude oil prices in New York have rebounded slightly and are now at in the 57 mark, as signs of easing in the Middle East and fears of a global economic slowdown continue to put potential downward pressure on oil prices. Oil prices got some support last week when U.S. energy companies cut the number of oil RIGS for a fourth straight week, dropping the number of RIGS for an eighth straight month.

Lower support is in the 56.50 line, and the above pressure is in 58. The overall trend shock upward.

PS:  Today focus

17:00 Euro zone consumer confidence index for July

17:00 Euro zone economic sentiment index for July

20:00 initial annual rate of German CPI in July (%)

20:30 Us June PCE price index annual rate (%)

20:30 monthly rate of personal expenditure in the United States in June (%)

22:00 U.S. conference board consumer confidence index for July

22:00 monthly rate of us seasonally adjusted existing home contract sales index in June (%)

Tokyo, Japan (11:00 PM) the bank of Japan (boj) announces its interest rate decision, holds a press conference and releases its economic outlook report.

14:30  bank of Japan governor haruhiko kuroda holds a news conference in Tokyo.